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Nonprofiteer
← HALE FAMILY FOUNDATION

Form 990 for tax year 2022

Filed by HALE FAMILY FOUNDATION.

Totals

Total revenue
$1,532,936
Total expenses
$1,103,296
Contributions and grants received
$0
Grants paid
$1,060,059
Program service revenue
$0
Investment income
$1,626,357
Other revenue
-$93,421
Total assets, end of year
$20,607,906
Total liabilities, end of year
$1,064,559
Net assets or fund balances, end of year
$19,543,347
Program services expenses (Part IX)
$1,098,796
Management and general expenses
$4,500
Fundraising expenses
$0
Program service expenses (Part III)
$1,098,796

Program services were 99.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $539,294 · excluded $539,294

  • 5 · Royalties

    total $34,968 · excluded $34,968

  • 7a · Gross sales of assets other than inventory

    securities $1,774,884

  • 7b · Less cost or other basis and sales expenses

    securities $687,821

  • 7c · Gain or loss

    securities $1,087,063

  • 7d · Net gain or loss

    total $1,087,063 · excluded $1,087,063

  • 11a · Other revenue: HALE CHARITABLE LP

    total -$128,389 · unrelated business -$82,716 · excluded -$45,673

  • 11e · Other revenue, total

    -$128,389

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,060,059 · program services $1,060,059

  • 11c · Fees: accounting

    total $4,500 · management and general $4,500

  • 24a · Other expenses: TULSA COMMUNITY FDT ADM

    total $38,737 · program services $38,737

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $524 · end of year $1,790

  • 12 · Investments: other securities

    beginning of year $20,107,980 · end of year $20,598,816

  • 15 · Other assets

    beginning of year $7,300 · end of year $7,300

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,002,099 · end of year $1,064,559

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $19,113,705 · end of year $19,543,347

Mission and programs · 2022

Mission

THIS CORPORATION IS ORGANIZED FOR THE SPECIFIC AND PRIMARY PURPOSE OF BENEFITTING, PERFORMING THE FUNCTIONS OF, OR CARRYING OUT THE PURPOSES OF THAT CLASS OF PUBLICLY SUPPORTED ORGANIZATIONS, INCLUDING TULSA COMMUNITY FOUNDATION THAT ARE DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(1) OR (2) OF THE INTERNAL REVENUE CODE AND THAT ENGAGE IN CHARITABLE ACTIVITIES WHICH ARE CONSISTENT WITH THE CHARITABLE PURPOSES OF TULSA COMMUNITY FOUNDATION.

Activities or mission (Part I)

THIS CORPORATION IS ORGANIZED FOR THE SPECIFIC AND PRIMARY PURPOSE OF BENEFITING, PERFORMING THE FUNCTIONS OF, OR CARRYING OUT THE PURPOSES OF THAT CLASS OF PUBLICLY SUPPORTED ORGANIZATIONS, INCLUDING TULSA COMMUNITY FOUNDATION, THAT ARE DESCRIBED IN SECTIONS 501 (C)(3) AND 509 (A)(1) OR (2) OF THE INTERNAL REVENUE CODE AND THAT ENGAGE IN CHARITABLE ACTIVITIES WHICH ARE CONSISTENT WITH THE CHARITABLE PURPOSES OF TULSA COMMUNITY FOUNDATION.

  • THE HALE FAMILY FOUNDATION IS A TYPE 1 SUPPORTING ORGANIZATION FOR THE TULSA COMMUNITY FOUNDATION (TCF)(A 501(C)(3) EXEMPT ORGANIZATION). ITS ACTIVITIES ARE TO MAKE DISTRIBUTIONS TO TCF FOR FURTHER DISTRIBUTION BY TCF TO OTHER CHARITABLE ORGANIZATIONS.

    Expenses $1,098,796 · Grants $1,060,059

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Phil Lakin Jr

    TCF CL DIRECTOR

    Total calculated
    $633,953
    From this org
    $0
    From related orgs
    $575,598
    Other
    $58,355
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $484,347 related
    Bonus
    $0 + $60,000 related
    Other
    $0 + $31,251 related
    Deferred
    $0 + $28,500 related
    Nontaxable benefits
    $0 + $29,855 related
    Filer's total
    $0 + $633,953 related

  • Kevin Redwine

    TCF CL DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Ray

    TCF CL DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Hale

    DONOR CL DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deborah Hale

    DONOR CL DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3
HALE FAMILY FOUNDATION'S SUPPORTED ORGANIZATION, TULSA COMMUNITY FOUNDATION (TCF), USED THE FOLLOWING TO ESTABLISH THE COMPENSATION OF TCF'S EXECUTIVE DIRECTOR, PHILLIP LAKIN, JR: COMPENSATION COMMITTEE; FORM 990 OF OTHER ORGANIZATIONS; COMPENSATION SURVEY OR STUDY; APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • HALE CHARITABLE LP

    INVESTMENT · INVESTMENTS · OK · 98% owned · share of income $1,371,451 · share of assets $27,878,449

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333199349306973

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